POLYDeFi Whitepaper
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In this whitepaper we will inform you on the POLYDeFi project. We will do so in a way that everybody will understand, since we are trying to make crypto as accessible as possible.
What is blockchain?
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
What is crypto?
A cryptocurrency is a digital currency that runs on a blockchain and can be used to buy goods and services, it uses an online ledger with strong cryptography to secure online decentralized transactions.
Although crypto can be used to buy goods and services as mentioned above, it drives another purpose as well; Much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices "to the moon".
What is POLYDeFi?
POLYDeFi is a transparent next generation tiered IFO launchpad running on the Polygon chain.
Polygon, previously known as MATIC network, is an interchain scalability solution that gives an infrastructure for creating blockchain networks that can interface with each other.
So what is an IFO launchpad you say? Let us explain:
IFO stands for Initial Fund Offering. POLYDeFi is a project that strives to decentralize the way in which new projects coming to the Polygon network raise funds.
Our Tiered IFO platform will help new cryptocurrency projects to raise funds by setting up a so called "tiered launchpad pool", which is based on a fixed purchase rate for tokens. POLYDeFi its native token ($OCTAGON) holders can stake USDC according to the tiered launchpad pool that they have qualified for, to receive an allocation of the IFO. Each of the 4 tiered launchpad pools will require a LP token lock. The more LP tokens get locked by an investor, the higher his/her tier will be, the more USDC he/she can stake, the more allocation of the IFO he/she will acquire.
In this case, a tiered launchpad pool is nothing more than a contract that manages: the accessibility to other pools, the contribution and distribution of tokens.
With POLYDeFi, new DeFi projects will be able to raise funds cheap and fast. $OCTAGON token holders will be able to participate in IFOs in an upmost secure way on the Polygon network.
The ultimate goal for POLYDeFi is to become an all-in-one DeFi platform where its investors would never have to leave the platform for anything they desire.
Last modified 8mo ago
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